Infosys, India’s second-largest IT services firm, has said that it will roll out salary hikes and promotions across all levels, effective January 1.
Infosys CEO Salil Parekh said that the company will pay a special bonus in the quarter to December, while paying 100% variable pay in the previous quarter. “We will pay a one-time special incentive in Q3 for our junior employees,” he added.
The salary hike process will restart now and will be effective on January 1, 2021, Parekh added.
“We restarted promotions in the last quarter at our junior levels, and this will now be expanded to all our levels,” Parekh said.
“Our second quarter performance is a clear reflection of our ability to help clients on their digital transformation journeys. Our digital and cloud capabilities combined with intense client relevance are helping us achieve differentiated results in the market as is visible in 2.2% year on year overall revenue growth and 25.4% growth from digital offerings, which now are at 47.3% of revenues”, said Salil Parekh, CEO and MD. “Increase in revenue and margin outlook for FY 21 is due to the continued trust clients have in us. I am extremely proud of our team for achieving these results in challenging business conditions globally.”
Infosys plans to hire about 15,000 freshers from campuses next year. The company hired 5,500 people including 3000 freshers in the second quarter this year.
Infosys COO Pravin Rao said the quantum of salary hikes will be identical to those seen in the previous years.
“There is lot of focus on enabling a remote place of working, a lot of focus on accelerated digital transformation, a lot of focus on migrating workflows to the cloud,” said Pravin Rao, the chief operating officer at Infosys, which provides services such as cloud, data and analytics to global clients.
Infosys has stepped up local hiring in the past three years and is ready to meet any challenges arising from changes to the U.S. visa regime, Rao said.
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